Tennessee won a Gold Shovel Award from Area Development for the work of state and local economic developers last year.
Each year, Area Development hands out the awards which recognize states that successfully attract high-value investment projects and significant new job creation. This is Tennessee’s fifth Gold Shovel since 2009.
Area Development highlights a number of major Tennessee projects last year, including Volkswagen’s expansion of its Chattanooga production facility and a string of logistics headquarters expansion across the state.
“Tennessee earned its Gold Shovel with a wide range of projects, but it has always been a big player in logistics,” Area Development writes. “FedEx in Memphis is one big reason, and it announced ongoing expansion plans in 2019 creating nearly 700 jobs.” The industry trade publication also points to considerable expansions by JNJ Express, Arrive Logistics and Western Express. Together with FedEx, these projects accounted for more than 2,000 headquarters jobs.
All told, TNECD supported more than 100 economic development projects across a range of industries in 2019, totaling more than 14,000 job commitments and nearly $3.3 billion in private capital investment. Area Development’s latest Gold Shovel highlights Tennessee’s business-friendly environment, where low taxes and reasonable business regulations combine with robust workforce development programs and a strong pipeline of talent.
For a deeper look at Area Development’s 2020 Gold Shovel Award recipients and its assessment of Tennessee, be sure to explore its newly announced awards here.